Shipit

Shipit is an Uber like app for delivery. It takes the best from courier and crowdshipping businesses to make shipments easy, cheap and safe for everyone, while allowing a ton of people to make a profit out of it.

More information on bonus structure will be announced in July.

How it works:

There are two kinds of users on the platform. Senders and travelers. Senders choose travelers that are willing to take their shipment on the route, guided by a transparent reputation system that filters out frauds with AI algorithms. The system has a deposit function to make sure all shipments are as secure as humanly possible. Deposit is made by the company, travelers only need to pay a factoring fee.

Travelers get paid via smart contracts, so they can be sure their money is going to get to their pockets. The process of payment is made way faster thanks to using crypto wallets instead of a more common fiat solution, associated with bureaucratic procedures imposed by the governments.

Travelers are verified and have to use real photos. Neural networks ban users who were found to be fraudsters even when they register again. The same algorithms are used to eliminate human error in creating a profile and to calculate travellers’ common routes to start suggesting people to senders based on predictions.

Shipit wants to go global with mail forwarding. This means users can find someone who is flying to their city from across the world, have them purchase an item for you and bring it to you for a fee.

Innovation:

Time magazine says that the future belongs to sharing economy. We observe signs of that in the popularity of BlaBlaCar, Uber and Airbnb. Shipit brings that to the world of delivery, giving the business a blockchain twist. This startup may prove to be an invaluable tool in the following years.

Innovation score: High

Token value:

SHPT is a utility token of the platform. Even though transactions can be done in fiat, using SHPT will result in much lower commission fees. Payments for priority listing are done in SHPT exclusively. With the potential this app has, the amount of transactions in a few years is going to be huge. This means the token’s value is expected to rise significantly.

Token value score: High

White paper:

The white paper presents an analysis of the delivery market and the shared economy market to show the potential of the field. It explains the idea of the project, comments on revenue streams and details the target markets and customer acquisition strategy.

The project also presents a technical paper and a Howey test.

White paper score: High

Roadmap:

Development process started in 2016. By the end of 2017 the company had pilot Android and iOS apps. In the first quarter of 2018 Shipit was beta testing iOS app. In the third quarter the company will integrate prediction systems with the app. By the end of the year Japanese and Philippines markets are going to be penetrated, new features will be introduced to the app. In 2019 the company will start blockchain integration, implement gamification verification system and penetrate South Korean market.

The last two bits are happening, if the project gathers 12 mio USD in funding. If the hard cap is met, Shipit is going to enter China, introduce mail forwarding and hold international conferences to attract more users.

Roadmap score: High

Business model:

The monetisation of the app is pretty simple. Shipit charges a 10% commission on fiat transactions that is reduced, when the payment is done in SHPT. It also sells priority listings.

The company targets the Asia-Pacific region, namely users, who are interested in shopping for fashion and clothes. This region is chosen because it lacks efficient delivery companies and its inhabitants are familiar with blockchain technology and most have cheap reliable smartphones. Shipit aims to grow like Uber, starting from big cities in Philippines and Japan and going worldwide, once the app is fully tested.

Business model score: High

Team:

The company’s CEO started his career as a financial analyst at Merrill Lynch and later on was managing the Digital Institute in New York, helping CEOs of fortune 500 companies to make their businesses go digital. COO is a financial specialist who was working at Fortune 100 companies like Fesco.

Chief of strategy has a vast experience in finance, consulting, building economic models and e-commerce for companies in Russia and China. CTO has over 11 years of experience in the field, leading IT projects in banking sector.

The highlight of the advisory board is an ex-member of DHL management board, who provides insight into how delivery business works and what are its flaws. The advisory board also features experts on marketing, conduction of ICO, blockchain technology, business analytics, logistics, mobile engineering and law.

Team score: High

Competitors:

Shipit lists three categories of businesses as its competition: courier services, crowd services and crowdshipping services. A courier company DHL is faster, but Shipit is the cheapest among the best picks of the industry. Users can’t ship their goods farther than 500 km with Uber or BlaBlaCar and crowdshipping services just aren’t good enough and don’t provide enough features in comparison with Shipit.

So far, it sees that this project has it in its pocket.

Competitors score: High

Overall thoughts:

Shipit brings Uber business model into the delivery industry, which is going to disrupt the way things are done. Staffed with professionals in the field, this company is certainly growing big. SHPT can be a very good investment choice.